The account balances of Sentinel Travel Service for the year ended August 31, 2019, are listed...

Transcribed Image Text:

The account balances of Sentinel Travel Service for the year ended August 31, 2019, are listed below. Fees earned $988,500 Office expense 227,355 19,770 474,480 69,200 24,715 Cash 183,250 Land 316,000 11,860 Supplies Barb Schroeder, the owner, invested an additional $59,300 in the business during the year and withdrew cash of $37,600 for personal use. Barb Schroeder, capital as of September 1, 2018, was $267,000. Prepare a report form balance sheet as of August 31, 2019. When entering assets, enter them in order of liquidity. Miscellaneous expense Wages expense Accounts receivable Accounts payable The account balances of Sentinel Travel Service for the year ended August 31, 2019, are listed below. Fees earned $988,500 Office expense 227,355 19,770 474,480 69,200 24,715 Cash 183,250 Land 316,000 11,860 Supplies Barb Schroeder, the owner, invested an additional $59,300 in the business during the year and withdrew cash of $37,600 for personal use. Barb Schroeder, capital as of September 1, 2018, was $267,000. Prepare a report form balance sheet as of August 31, 2019. When entering assets, enter them in order of liquidity. Miscellaneous expense Wages expense Accounts receivable Accounts payable

Answer rating: 100% (QA)

Sentinel Travel Service Balance Sheet As of August ... View the full answer